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> Since 2004, railroad profits have increased 676 percent and railroad stock prices have increased 1,250 percent. This is the sort of return more commonly associated with criminal enterprises. “Profit margins can’t rise further,” wrote #Bloomberg Opinion columnist #ThomasBlack last month, “without inflicting even more damage on customers and workers.” That was #Bloomberg pinion talking, not the #DailyWorker.
https://newrepublic.com/article/167758/nationalize-railroads-biden-train-strike
#NewRepublic"s #TimothyNoah on #RailRoad #Strike #WallStreet
Strike Settled. Now Let’s Nationalize the Railroads.

Did you know that railroads are the most profitable industry sector in America? No, that’s not a good thing.

The New Republic
Sep 18, 2022 at 1:44amWeb
Show threadbs2Sep 18, 2022

> The railroad companies have been #WallStreet’s plaything throughout their half-century decline. Financiers endlessly pull rail companies apart, recombine the pieces at random, and sell off rights of way whenever possible. (Those rail-to-trail bike paths don’t come free.) ... running a railroad today isn’t about moving freight; it’s about pushing costs down and revenues up..

#WarrenBuffet no grace, no pride in function,

Show threadbs2Sep 18, 2022

> #railroads!—were, as of 2019, the most profitable industry sector in America, according to the American Journal of Transportation, with a profit margin of 51 percent. By comparison, #RealEstate (the selling of the world’s most finite resource, land) ranked number two at 41 percent, and #tobacco (an addictive substance) was number three at 31 percent.

#CriminalEnterprise are as profitable as monopolizing rail or energy, or getting people addicted to substance that are arbitrarily legal